Jet2 boss predicts ‘low' capacity increases in summer 2026 market

The boss of Jet2 expects capacity increases in the UK market next summer to be “low” – meaning the company is investing more in marketing to encourage earlier bookings.

 

The airline and tour operator group highlighted a “fast-moving” late booking market when it reported a record six-month period on Wednesday (November 19).

 

Steve Heapy, Jet2.com and Jet2holidays’ chief executive, said capacity next year, excluding its newest base at Gatwick, is up by 5%, “so a very modest capacity increase”.

 

“I think the capacity increases in the market will also be low,” he added.

 

“It’s looking like the market for next year will only be slightly bigger than this year.”

He said the company is therefore “leveraging” its marketing technology “to try to tempt people to book earlier”.

 

“One thing that’s particularly attractive in the current climate is our part payment scheme,” he told the conference call.

 

“We have two part-payment schemes to offer our customers, and this is something we’re seeing that’s very popular, where they can book a holiday, they can lock in the cost of the holiday, and then take one of our part-payment schemes so they don’t have to pay in one instalment.”

 

He noted how the company’s £60 deposit has been “stable” for the last 15 years, and, along with instalments, helps to spread the cost for customers.

 

Heapy said the current Black Friday sale is “proving very popular”, adding: “People want to lock in the price today…particularly before anything that might happen in the budget.

 

“I think when the market really does hot up and we enter the peak booking period, I think that will be something very attractive.”

 

He also highlighted the “trust” in Jet2’s brand, commenting: “In economic times like we’re in at the moment, people tend to gravitate to brands they trust.

 

“They may not go for the lowest price in the market. They want to make sure they get value for money, and I think that is what we have provided.”

 

Commenting on the trade response to the new Gatwick base, he said feedback from travel agents was “unanimously positive”.

 

He said agents have a “very good experience” with the brand, thanks to its customer service, and many also remember how Jet2 refunded customers during the pandemic.

 

“We treated our travel agent partners very well, and I think the trust and respect and loyalty that we showed during the pandemic is still being repaid,” he said.

 

“[Agents are] still a very, very important part of our business. It’s still just over 20% of our bookings, and we do work very hard to grow the relationships with travel agents.”

 

The results statement said: “Travel agents commission grew 1% to £135.3 million (2024: £133.9m) as higher average package holiday prices were offset by a reduction in independent travel agent booking volumes, as the overall proportion of direct bookings (via web and app) increased by one percentage point to 80% (2024: 79%).”